Lincoln Electric Holdings, Inc. (NASDAQ:LECO) – Analysts at Gabelli reduced their FY2020 earnings per share (EPS) estimates for shares of Lincoln Electric in a report released on Monday, November 19th. Gabelli analyst M. Trusz now anticipates that the industrial products company will post earnings per share of $6.10 for the year, down from their previous forecast of $6.15. Gabelli currently has a “Buy” rating and a $111.00 price objective on the stock. Gabelli also issued estimates for Lincoln Electric’s FY2022 earnings at $7.40 EPS.
A number of other brokerages have also recently issued reports on LECO. BidaskClub cut Lincoln Electric from a “buy” rating to a “hold” rating in a research note on Saturday, August 25th. ValuEngine upgraded Lincoln Electric from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Barclays set a $90.00 price objective on Lincoln Electric and gave the company an “equal weight” rating in a research note on Friday, October 26th. KeyCorp lowered their price objective on Lincoln Electric from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, October 26th. Finally, Robert W. Baird set a $85.00 price objective on Lincoln Electric and gave the company a “hold” rating in a research note on Thursday, October 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Lincoln Electric currently has a consensus rating of “Hold” and an average price target of $102.44.
Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Thursday, October 25th. The industrial products company reported $1.21 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.21. Lincoln Electric had a return on equity of 31.77% and a net margin of 7.40%. The company had revenue of $737.10 million for the quarter, compared to analyst estimates of $763.42 million.
Several hedge funds have recently bought and sold shares of LECO. Ancora Advisors LLC purchased a new position in shares of Lincoln Electric in the third quarter worth $100,000. First Hawaiian Bank purchased a new position in shares of Lincoln Electric in the third quarter worth $102,000. Bruderman Asset Management LLC purchased a new position in shares of Lincoln Electric in the second quarter worth $113,000. Psagot Investment House Ltd. purchased a new position in shares of Lincoln Electric in the second quarter worth $133,000. Finally, Twin Tree Management LP raised its stake in shares of Lincoln Electric by 262.2% in the second quarter. Twin Tree Management LP now owns 1,588 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 2,567 shares during the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.
In other Lincoln Electric news, Director Kathryn Jo Lincoln sold 3,140 shares of Lincoln Electric stock in a transaction on Friday, August 31st. The stock was sold at an average price of $94.10, for a total transaction of $295,474.00. Following the completion of the transaction, the director now owns 44,194 shares in the company, valued at $4,158,655.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.27% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a dividend of $0.47 per share. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, December 28th. This represents a $1.88 dividend on an annualized basis and a yield of 2.28%. Lincoln Electric’s payout ratio is presently 41.16%.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, manufactures, and sells welding, cutting, and brazing products worldwide. It operates through three segments: Americas Welding, International Welding, and The Harris Products Group. The company's welding products include arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
See Also: Intrinsic Value
Receive News & Ratings for Lincoln Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln Electric and related companies with MarketBeat.com's FREE daily email newsletter.